Let $(x,y)$ be an ordered pair of real numbers that satisfies the equation $x^2+y^2=14x+48y$. What is the minimum value of $y$?
Solution: Moving all the terms to the LHS, we have the equation $x^2-14x+y^2-48y=0$. Completing the square on the quadratic in $x$, we add $(14/2)^2=49$ to both sides. Completing the square on the quadratic in $y$, we add $(48/2)^2=576$ to both sides. We have the equation  \[(x^2-14x+49)+(y^2-48y+576)=625 \Rightarrow (x-7)^2+(y-24)^2=625\]Rearranging, we have $(y-24)^2=625-(x-7)^2$. Taking the square root and solving for $y$, we get $y=\pm \sqrt{625-(x-7)^2}+24$. Since $\sqrt{625-(x-7)^2}$ is always nonnegative, the minimum value of $y$ is achieved when we use a negative sign in front of the square root. Now, we want the largest possible value of the square root. In other words, we want to maximize $625-(x-7)^2$. Since $(x-7)^2$ is always nonnegative, $625-(x-7)^2$ is maximized when $(x-7)^2=0$ or when $x=7$. At this point, $625-(x-7)^2=625$ and $y=-\sqrt{625}+24=-1$. Thus, the minimum $y$ value is $\boxed{-1}$.

--OR--

Similar to the solution above, we can complete the square to get the equation $(x-7)^2+(y-24)^2=625$. This equation describes a circle with center at $(7,24)$ and radius $\sqrt{625}=25$. The minimum value of $y$ is achieved at the point on the bottom of the circle, which is located at $(7,24-25)=(7,-1)$. Thus, the minimum value of $y$ is $\boxed{-1}$.